The leading brand for small, sustainable and affordable

fox e-mobility AG | Confidentialfox e-mobility AG | Herzogspitalstrasse 24 | 80331 Munich Germany | www.fox-em.com | Confidential

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PRESENTATIONQ3 2021

The leading brand for small, sustainable and affordable multipurpose electric vehicles

fox e-mobility AG | Confidential 2

the new electric car coming soon

Sometimes small thingsmake a big difference

fox e-mobility AG | Confidential

Overview





THE NEW MIA

SUMMARY HIGHLIGHTS

Cost Effective Modular Electrical Vehicle Platform

Multi Pillar Robust Business Model

1.

2.

3.

4.

5.

Highly Scalable Business Opportunity

De-Risked & Shortened Development and Manufacturing

Attractive Entry Valuation

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▪ First listed European pure e-mobility company

▪ Based on an existing EV platform (MIA 1.0)

▪ Founded end 2020 by a reverse merger

▪ Based in the heart of Europe, Munich, Germany

▪ Dual-pronged B2C / B2B strategy targets large markets that are

primed for explosive growth

▪ Building "THE" electric vehicle for sustainable mobility concepts

accessible for all

33Patents and Trademarks

and Designs

1 Platform 2 Vehicles near term

More Coming

FOX E-MOBILITY AT A GLANCEBecoming the Leading Brand for Small, Sustainable and Highly Practical and Flexible Vehicles

ABOUT FOX HIGHLIGHTS

Cost Effective Modular Electrical Vehicle Platform

Multi Pillar Robust Business Model

Highly Scalable Business Opportunity

De-Risked & Shortened Development and Manufacturing

Attractive Entry Valuation

1,200+ Mia 1.0 still driving

Robust & Mature Technical Basis

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DR. CHRISTIAN JUNG (CTO)

▪ 20+ years experience in the automotive Industry

▪ “Father” of the Porsche Mission E

▪ Former CTO of Automobili Pininfarina

▪ Realized & Introduced the 800V Ultra-Fast Charging Technology (Ionity & EA)

THE TEAMSuccessful Experts in the Automotive, Energy and Start-up Sectors

PHILIPPE PERRET (CEO)

▪ 15+ years experience in the management of listed companies

▪ Engagements in the renewable energy sector

▪ Former Corporate Banker from Société Générale

ULRICH HOERNKE (CFO)

▪ 25+ years experience for global OEMs

▪ Several Positions as CFO, Business Development andCountry MD

▪ Several Engagements within the e-mobility start-up world

22.08.2021 | 9


WHAT HAS BEEN DONE

© COPYRIGHT 2021 FOX E-MOBILITY AG | HERZOGSPITALSTRASSE 24 | 80331 MUNICH GERMANY | WWW.FOX-EM.COM | CONFIDENTIAL© COPYRIGHT 2021 FOX E-MOBILITY AG | HERZOGSPITALSTRASSE 24 | 80331 MUNICH GERMANY | WWW.FOX-EM.COM | CONFIDENTIAL

Core Team hired

Battery supplier secured

High Voltage systems layout finished

Engineering supplier structure established

Key components pre-selected

Achievements of the last 8 months

Exterior design finished

First funding round completed

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http://www.fox-em.com/



Engineering Service RevenueCO2 CREDITS+ upside potential of selling CO2 credits to traditional OEMS

License FeeDistribution Revenue

EU 27 Markets▪ 1 Seater▪ Last mile delivery/local ▪ Logistics▪ Commercial fleets

EU 27 Markets▪ 3 or 4 seats▪ Urban users

Asians /Overseas Markets, etc.▪ License Fee Income▪ Customer specific

configuration ▪ Skateboard or vehicles

Worldwide Ready▪ 3 or 4 seats▪ Industrial customers

COMMERCIAL VEHICLE (N1) PASSENGER VEHICLE (M1) SKATEBOARD LICENSE PROGRAMS

Major Income Streams

THE BUSINESS MODELMultiple Income Streams Build a Robust Foundation for the Business Model

Highly Attractive Profitability and Extraordinary Valuation Potential for Investors

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SKATEBOARD


SKATEBOARD FLEXIBILITYMultiple Use Cases Based on One Foundation

SHORT PASSENGER CAR

3 PASSENGER VERSION

LONG PASSENGER CAR

4 PASSENGER CAR

SMALL VAN FOR “LAST MILE” DELIVERY

1500 LITRES VOLUME OF SPACE

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TECHNOLOGY IN USE AND ECO-SYSTEMIP OWNERSHIP

15 Patents

▪ 2nd battery optional

▪ Sliding doors & center seat

3 Designs

15 Trademarks

▪ Mia

▪ Mia Electric

▪ etc.

Advanced Technology

▪ Optional solar lamination integration (e.g. roof module)

▪ Fuel Cell (>700km range or Electrical Supply Functionalities)

▪ Update Over The Air (OTA)

▪ Mia U: Additional Multi Power Supply (220V, 3 Phase 11kW, etc..) for Tooling &

Application usage

▪ Cooling / warming

Open System Approach Software & Hardware eco System: “Do more than driving”

▪ Enable the users to do more in an easy way

▪ Open the interface documentation

▪ Open repair concept

Modular Autonomous System Concept:

▪ Base Installation: Level 2+ at Start of Production

▪ Level 3 & 4 ready for high tech markets

▪ No autonomy in cost sensitive markets, e.g. Indonesia

▪ Modular skateboard concept for different applications

IP AND TECHNOLOGYAttractive IP Portfolio and Market Leading Technology

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Next GenerationB2B VehiclesMIA UTILITY



MIA UTILITYThe Answer to the Commercial Sector Shifting Toward e-Mobility

INDUSTRY TRENDS

▪ Industry shift to zero emission vehicles

▪ Strong increase in last mile delivery and e-commerce

(Amazon Fresh, Bringmeister,…)

▪ Same day delivery will be an important driver (Gorillas, Flink)

▪ Total cost of ownership counts

▪ Commercial fleet operators have a fixed bases which is simplifying

charging solutions

▪ Operators understand the range requirements

▪ Projected tenfold increase in market share for eLCV (electric light

commercial vehicles)

EUR 10.1 B EUR 71.4 B

2021

2.6%

10.1%

22.8%

2020 2025 2030

eLCV

X 10

DEVELOPMENT GLOBAL LCV MARKET

GLOBAL MARKET SIZE LAST MILE DELIVERY

2030

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MIA UTILITY – TECHNICAL HIGHLIGHTSThe Most Practical, Usable, Ergonomic and Economic Vehicle

▪ Full Commercial Vehicle (N1) Homologation

▪ Multiple loading configurations (Pickup, Van, Cargo, etc.)

▪ Flat Loading Floor

▪ Excellent goods accessibility

▪ Craftsman Tooling Integration

▪ Quick entry and leave for the driver

▪ Driver can always leave on the needed / safe side

FEATURES

▪ Optional 4WD, higher ground clearance

▪ Optimal for tight building sites

▪ Light weight

▪ Low consumption

▪ Advanced safety features (ESP, ABS, ACC, blind spot assist, …)

▪ Flexible seat system for commercial use ‘Last-Mile Delivery’ or 3/4 seats

DESIGN

▪ Additional power outlets (1 phase, 3 phase, etc.)

▪ Mobile Power Station with second battery

▪ Heating and cooling of goods

▪ Inductive charging pads for power tools

▪ Optional roof carrier or trailer hatch with 4WD

COMMERCIAL ADVANTAGES

▪ Robust and endurable

▪ Simple repair concept

▪ Excellent integration of company tools & apps (Tablets & mobile phones)

TECHNICAL HIGHLIGHTS

▪ 225 km range

▪ Additional second battery for range or electrical functionalities

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USABILITY


Vehicle▪ Very competitive purchase price (EUR 16,000 inc. VAT starting price)

▪ Low weight but high interior volume (1,500 liter)

▪ Small turning circle and sliding doors. excellent for cities

▪ Modular design allows multiple built up concepts

Maintenance▪ Usage of reliable standard parts (tried and tested industry standard)

▪ Open repair concept

▪ Cost effective materials (e.g. steel profiles and sheets)

Energy▪ Flexible battery pack configuration

(Optional 2nd battery enabling ca. 450km range)

▪ 25kWh battery size – can be charged overnight on a household

sockets

-5%

-54%

-88%

6%2%

-25%

17%

TCO EV vs. ICE

FOX E-MOBILITY AT A GLANCEMIA Utility Leading in Total Cost of Ownership (TCO)

22.08.2021 | 21


Fun, Usability,SustainabilityMIA Passenger


▪ 50% of all new BEV registrations are in the mini/small segment

in Germany

▪ 2 cars in 1 household (87%)

▪ Urbanization / more commuters

▪ Restricted parking areas / upcoming ban on ICE-vehicles in

inner cities (London, Milan, Paris,….)

▪ Trends towards car subscription, TCO will become more

important

▪ Pandemic spreads popularity of electric micro-mobility

▪ Great subsidies from national governments for EVs

▪ ICE EV price parity will be reached by 2025

▪ Electric Vehicle Market to grow by 21.1% CAGR till 2026 0

19.9

2

8.4

19.6

29.9

16.2

9.4

20.6

1.9

5.5

16.1

19.9

15.5

8

Offroad vehicles

SUV

Large

Upper Midsize

Midsize

Compact

Small

Mini

Share (in %) of the car segments in all newly registered carswith electric drives in 2020 in Germany

Cars with electric drives overall Cars with pure electric drives overall

MIA PASSENGERThe Product for the Growing Demand of Small, Attractive and Cost-Effective Vehicles

PASSENGER CAR TRENDS AND FACTS

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THE NEW MIA – HIGHLIGHTSThe Most Attractive, Sustainable and Practical EV in the Market

DESIGN

▪ Modern

▪ Urban

▪ Unique

▪ Attractive

▪ Sustainable → >95% recyclable

▪ Practical

▪ Affordable

DRIVING IS FUN

▪ Agile

▪ Small turning radius

▪ Robust and endurable → low TCO

▪ Perfect for tight streets & parking spots

USABILITY & ERGONOMICS

▪ Central driving position

▪ Sliding door

▪ Excellent space and visibility feeling

▪ Excellent accessibility front and rear seating

▪ Safe (EU-NCAP 4 Star)

▪ Flexible rear seating system

TECHNOLOGY

▪ Light weight (ca. 950 kg)

▪ Low consumption

▪ Advanced safety features from today’s Premium Class (ESP, ABS, ACC, blind spot assist, …)

▪ Seamless connected (“Plug‘n Charge”, Android, Apple, Update Over The Air, etc.)

▪ Do more with Mia: Open Interfaces available from GitHub

▪ Digital services integrated

TECHNICAL DATA

▪ Max speed = 130 km/h

▪ 0-100 km/h below 10s

▪ Range 225 km plus optional 225 km

22.08.2021 | 24


Fox MIA

2,647 2,740

3,276

4,533

5,323

e-golf Model 3 Mia Odyssey Canoo

3,200

4,2704,421

4,694

5,171

Mia e-golf Canoo Model 3 Odyssey

2,235

2,629

2,850 2,8753,000

Mia e-golf Canoo Model 3 Odyssey

584

620

877

1,024

1,204

Model 3

e-golf

Odyssey

Mia

Canoo

Honda Odyssey

Tesla Model 3

VW e-golf

Canoo

MIA PASSENGER IN SPACE COMPARISONAn Intelligent Vehicle Concept Enables Highly Competitive Space Usage Vehicles

TOTAL PASSENGER VOLUME (in liter)

LENGTH(in mm)

WHEELBASE(in mm)

PASSENGER VOLUME PER METER VEHICLE LENGTH (in liter/m)

Based on: SAE J1100 PV1 + PV2 + PV3, SAE J1100 L103, L101

22.08.2021 | 25


OPEN A UNERVISE OF APPLICATIONS FOR COMMERCIALS & COMMUNITIES

SEAMLESS INTEGRATION IN CONSUMERS LIFE

▪ Plug and Charge & Overnight charging service

▪ Integration of customer hardware

▪ Clever use applications: e.g. mobile speakers

▪ Digital shareable keys, etc.

▪ Spirit: „Ease to Use“

▪ Open Interface (Github Integration)

▪ Simple extensions by users

▪ Excellent: "Bring your own device" integration

▪ Mia Development Community

DIGITAL ECOSYSTEMFollowing an Open System Approach, the MIA will be the Platform for Multiple Use Cases and Large Community Exchange

22.08.2021 | 26


Realization



CONTRACT MANUFACTURER RELATIONSHIP

▪ Reduces capital requirements

▪ Scalability of volumes

▪ Reduces complexity and production risk

▪ Leverage on existing experience and know how

▪ Ensures high built quality

▪ Working with established suppliers

▪ Using standard parts with proven record

▪ Contracting companies which understand the environment of a start up

▪ Buying systems rather than optimizing every part

▪ IP, Design, Engineering

▪ Vehicle distribution

▪ Assembly of the vehicle

▪ Resource planning

▪ Labor and overhead costFee per vehicleInitial Set Up costs

Fully assembled vehicle

REALIZATION STRATEGYReducing Engineering Complexity and Outsourcing Production Allows a Fast Market Entry

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SMART ENGINEERING OUTSOURCED PRODUCTION


Market Sales & Distribution


1Urban challenges ahead of us

→ congestion vs population vs safety

2Urban population

is growing heavily. Today 55% of the world’s population live in urban areas, a proportion that is expected to increase

to 68% in 2050

4The concept of ownership

is increasingly moving towardsthe bundling of ‘product & service’

3E-commerce

is driving last-mile delivery towards urban areas

5Customer value proposition → be there, be quick, be useful

GREEN DEAL‚sustainable and modular mobility‘

MISSION5 Megatrends Drive E-Mobility

22.08.2021 | 31


Real cost to consumers will vary from EUR 8,000 – 11,000 (after governmental incentives). In certain countries/areas these subsidies can be even greater!

THE MIA SUITS ALMOST EVERY BUDGET STARTING AT EUR 16,000 !

COMPETETIVE LANDSCAPEPrice and Positioning

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HYBRID SALES & DISTRIBUTION

MARKETING

▪ Use existing distribution networks (sustainable approach)

▪ Use social media (Instagram, Tik- Tok, Snapchat,…)

▪ Online sales - trend for shopping & online configuration gaining momentum vs showroom visits

▪ Local customer centers - similar to Tesla approach but suburban rather than city centers

▪ Use existing infrastructure (ATU, Bosch – Germany: 22,000 vs. > 14,600 OEM shops)

▪ Bosch service for battery and electronics

▪ Online owner manuals free of charge

▪ “Over the air “ technology of The New MIA allowing remote diagnostics and updates

▪ Parts logistics and supply – through proven partners (e.g. Emil Frey)

▪ Online warranty and recall processes

▪ MIA Customer internet savvy – leverage social media and online marketing channels

▪ Quality and price-based differentiator: high quality for an affordable price

▪ Pop-up stores to make the vehicle visible to customers (shopping centers, malls, wherever people congregate)

▪ Unconventional social media techniques of establishing consumer connections

▪ Good quality products and service mean higher word-of-mouth branding

SALES CONCEPTfox e-mobility will Leverage Advantages of Offline and Online Sales the Best of Two Worlds

SERVICE & MAINTENANCE

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Summary


1. Cost Effective Modular Vehicle Platform

2. Multi Pillar Robust Growth Strategy

▪ The Skateboard enables multiple EV types across commercial and consumer applications with limited

investment

▪ Lightweight sustainable platform full filing ESG requirements

▪ Platform licensable and adaptable to further customers

▪ Consumer price for the MIA starting at EUR 16,000 (incl. VAT)

▪ Parallel income streams ensure a highly attractive & robust business model

▪ Revenues from sale of The New MIA and derivatives: consumer & commercial applications

▪ Licensing and skateboard sales revenues for regions outside Europe

▪ Income from sale of CO2 credits in Europe as attractive upside potential

▪ Engineering Services Revenues for Applications of B2B & License Customers

3. Highly Scalable Business Opportunity

▪ ”Window of Opportunity” in a growing market segment with limited competition

▪ B2B, B2C, B2D applications

▪ Further markets and sales volume / income by licences or CKD or Skateboard Sales

ATTRACTIVE REVENUE & VALUATION OPPORTUNITIESfox e-mobility Offers an Extraordinary Chance to Build a Foundation of a Highly Scalable Business for the Future

22.08.2021 | 35

CONTINUE ->


4. De-Risked Development and Manufacturing

▪ Reduced risk and investment through outsourced manufacturing, focus on development

▪ Experienced Tier 1 manufacturer ensures high quality, lower warranty risks

▪ Short time to market – The New MIA to be on the road by 2023

▪ Seasoned management team Extensive automotive/ e-mobility, start up and finance track record

ATTRACTIVE REVENUE & VALUATION OPPORTUNITIESfox e-mobility Offers an Extraordinary Chance to Build a Foundation of a Highly Scalable Business for the Future

22.08.2021 | 36

5. Attractive Entry Valuation

▪ Low valuation (market cap) compared to other EV players

▪ Resulting in significant upside potential compared to comparable players in the market

▪ Billion+ opportunity with EBITDA positive in 2024e with >400% growth till 2026e


Demand

2020 2025 2030

WINDOW OFOPPORTUNITY

Offer of Small & Mini

EVs increasing past

2026

Offer of Small & Mini

ICE Cars Decreasing

EURO 7

Increasing Demand for small vehicles

Establish MIA

WINDOW OF OPPORTUNITYThe MIA Hits the Sweet Spot for Global Demand in the Small EV Sector

22.08.2021 | 37

fox e-mobility AG | Confidential 38

THANK YOU FOR YOUR ATTENTION.

If you have any further questions, please do not hesitate to contact:

fox e-mobility AGHerzogspitalstrasse 24

80331 Munich, Germany

www.fox-em.com

[email protected]

22.08.2021


mailto:[email protected]



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22.08.2021 | 39

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